Category: Estate Planning
The advantage of a traditional IRA or Roth IRA when it comes to inheritance comes down to the circumstances. Since distributions from a Roth IRA are tax-free while a traditional IRA is not, it is understandable that most people consider the Roth IRA has the advantage in inheritance since not having to pay taxes always […]
Baby boomers seem to have varied opinions on whether they should leave their children an inheritance. Are they being selfish? Baby Boomers are split on whether they should leave an inheritance to their children, according to a study by Hearts & Wallets which found that 40 percent plan to do so, 30 percent plan not […]
The smell of urine could lead to an early diagnosis of Alzheimer’s Disease. Currently there is no way to make a determination until the symptoms are discovered. If a diagnosis of Alzheimer’s Disease could be made before someone begins to show symptoms of the disease then decisions could be made by the patient before they […]
Being named an executor brings responsibility and stress. It is a position that should be filled carefully. Executors often have to deal with contending creditors, heirs, family members who are not heirs, financial institutions and more. A recent headline highlights the situation in the Globe and Mail which reads “Being executor of a will likely […]
Failing to update retirement plans and insurance policies as well as other important papers often leads to problems when it comes to beneficiaries. A fairly common situation of inadvertently giving an ex-spouse money is highlighted in the USA Today “Your ex could get rich if you don’t update your beneficiaries” as it explains how unexpected […]
The Supreme Court’s recent decision legalizing gay marriage requires interpretation as highlighted in the case of a couple’s relationship statuses before the ruling took effect. Mauricio Leyton and his partner David Hunter had a commitment ceremony in 2002 to signify their lifetime commitment when they were not allowed to be legally married. They separated in […]
A trend by banks to not install safe deposit boxes in new branches being constructed could solve some problems for those handling estates. In the past, bank customers often used safe deposit boxes to protect important documents – but today it is estimated only 5% of customers have continued the practice. A recent blog by […]
People who cash out their mutual funds usually face tax consequences but it’s much simpler for those who inherit the funds. Tracking the price paid for mutual fund shareholders is necessary to know the original value at the time of purchase in order to account for income from the funds and pay the capital gains […]
The spouse is usually named the executor of a partner’s estate but it is important to consider that decision when a divorce occurs. The divorce of the former lead singer of Stone Temple Pilots, Scott Weiland, caused controversy in the naming of the executor of his estate following Weiland’s death last year of an apparent […]
A surviving gay widow and FedEx face off following the Supreme Court’s decision on same-sex marriage in what is most likely the first of many cases. Lesley Taboada-Hall, who was a long-time FedEx employee with a pension plan, married Stacy Schuett in a California civil ceremony on June 19, 2013. Taboada-Hall died the next day […]
